Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

5. Intangible Assets

The gross carrying amounts and accumulated amortization of the Company’s intangible assets with determinable lives as of June 30, 2024 and December 31, 2023 were as follows (in thousands):

	June 30, 2024
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	428	$	(298	)	$	130
Computer software		170		(114	)		56
Total intangible assets	$	598	$	(412	)	$	186

	December 31, 2023
	Gross carrying amount		Accumulated amortization			Intangible assets, net
Intangible assets with finite lives:
Technological know-how	$	430	$	(290	)	$	140
Computer software		171		(106	)		65
Total intangible assets	$	601	$	(396	)	$	205

Intangible assets are carried at cost less accumulated amortization and impairment, if applicable, and the amortization expense is recorded in operating expenses. The weighted average amortization period for the intangible assets as of June 30, 2024 is 4.8 years.

Amortization expense was $8,500 and $48,000 for three months ended June 30, 2024 and 2023, respectively. Amortization expense was $16,000 and $93,000 for six months ended June 30, 2024 and 2023, respectively. Based on finite-lived intangible assets recorded as of June 30, 2024, the estimated future amortization expense is as follows (in thousands):

	Estimated amortization expense
2024	$	17
2025		34
2026		34
2027		33
2028		18
Thereafter		50
Total	$	186